Title 31A Chapter 35 Section 401

Insurance Code
Bail Bond Act
Section 401
Requirement for license or certificate of authority -- Process -- Fees -- Limitations.

            

31A-35-401.   Requirement for license or certificate of authority -- Process -- Fees -- Limitations.

            (1) (a) A person may not engage in the bail bond surety insurance business unless that person:

            (i) is a bail bond surety company licensed under this chapter;

            (ii) is a surety insurer that is granted a certificate under this section in the same manner as other insurers doing business in this state are granted certificates of authority under this title; or

            (iii) is a bail bond producer licensed in accordance with this section.

            (b) A bail bond surety company shall be licensed under this chapter as an agency.

            (c) A bail bond producer shall be licensed under Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries, as a limited lines producer.

            (2) A person applying for a bail bond surety company license under this chapter shall submit to the commissioner:

            (a) a completed application form as prescribed by the commissioner;

            (b) a fee as determined by the commissioner in accordance with Section 31A-3-103; and

            (c) any additional information required by rule.

            (3) A fee required under this section is not refundable.

            (4) A fee collected from a bail bond surety company shall be deposited in a restricted account created in Section 31A-35-407.

            (5) (a) A bail bond surety company shall be domiciled in Utah.

            (b) A bail bond producer shall be a resident of Utah.

            (c) A foreign surety insurer that is granted a certificate to issue bail bonds may only issue bail bonds through a bail bond surety company licensed under this chapter.


Amended by Chapter 10, 2010 General Session